Alternatively, this card is great for quickly getting out strong "LV" monsters that require you to destroy a monster by battle with a lower "LV" monster in order to Summon it, such as "Horus the Black Flame Dragon LV8" or "Armed Dragon LV7". Have a lower "LV" monster in the Graveyard, then use this card to copy that monster's effect for the turn. Once you satisfied the requirements, you can level-up this card during the end phase, and get the higher LV monster from your hand or deck.

Another strategy is to use this card's effect to copy and abuse the effect of "Dark Armed Dragon" in your Graveyard.

Equip this card with "Mist Body" so it won't be destroyed by battle when its ATK goes back to 0 at the End Phase. This combo also goes well with "Spirit Barrier" so you don't take any battle damage when this card gets attacked. Using "Astral Barrier" will prevent battle damage and your opponent won't be able to destroy "Phantom of Chaos" with effects such as "Sasuke Samurai 4".

Use this card's effect to copy a powerful Spirit monster and then, during the End Phase, you can choose either to have "Phantom of Chaos" lose the Spirit monster's effect or to return it to your hand. However, this only works on the turn that "Phantom of Chaos" was Normal Summoned or flipedface-up.

Target "King of the Skull Servants" in your Graveyard and banish it, then discard a "Wightmare" to Special Summon the "King of the Skull Servants" you just banished. This way you have another "Wights" in your Graveyard and you have "Phantom of Chaos" being treated as "King of the Skull Servants" to deal with your opponent's monsters and possibly scout out any traps to save your real "King of the Skull Servants".

Copy the effect of "Gagaga Magician" to circumvent its Synchro Summoning restrictions and change its Level for an easy Synchro Summon.

This card is great in a "VWXYZ" Deck as it allows you to both use this card as Fusion Material for "VWXYZ-Dragon Catapult Cannon" and banish "XYZ-Dragon Cannon" as it can not be Special Summoned from the Graveyard but can be Special Summoned from the Banished Zone.